49,147 Shares of Hinge Health Inc. $HNGE Purchased by Calamos Advisors LLC

Key Points

• Calamos Advisors initiated a position in Hinge Health, buying 49,147 shares valued at approximately $4.78 million, or 0.06% of the company.
• Hinge Health reported quarterly EPS of $0.71, beating the $0.27 consensus estimate, while revenue rose 52.4% year over year to $234.97 million.
• Analysts have a Moderate Buy consensus and an average price target of $118.93; company insiders sold about $95.6 million in shares over the past three months.

Calamos Advisors LLC purchased a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 49,147 shares of the company's stock, valued at approximately $4,779,000. Calamos Advisors LLC owned 0.06% of Hinge Health at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HNGE. IFP Advisors Inc lifted its holdings in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company's stock worth $27,000 after buying an additional 189 shares during the period. Nykredit A S purchased a new position in shares of Hinge Health during the second quarter valued at approximately $29,000. SBI Securities Co. Ltd. increased its stake in shares of Hinge Health by 39.5% during the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company's stock valued at $35,000 after buying an additional 103 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Hinge Health by 899.3% during the third quarter. Sterling Capital Management LLC now owns 1,469 shares of the company's stock valued at $143,000 after acquiring an additional 1,322 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Hinge Health during the third quarter valued at approximately $207,000.

Hinge Health Stock Performance

Hinge Health stock opened at $115.75 on Monday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $124.94. The stock's 50 day simple moving average is $100.80 and its two-hundred day simple moving average is $68.84. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 59.06, a PEG ratio of 1.63 and a beta of 1.19.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The firm's revenue was up 52.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. On average, analysts predict that Hinge Health Inc. will post 1.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. KeyCorp raised their price target on Hinge Health from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, October 16th. Citizens Jmp boosted their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 5th. Truist Financial upped their price objective on shares of Hinge Health from $112.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, November 3rd. Canaccord Genuity Group raised their target price on shares of Hinge Health from $105.00 to $134.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Finally, Wall Street Zen raised shares of Hinge Health from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $118.93.

Insider Transactions at Hinge Health

In other Hinge Health news, Chairman Gabriel Mecklenburg sold 200,000 shares of the firm's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the completion of the transaction, the chairman owned 200,000 shares of the company's stock, valued at approximately $20,626,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 4,100 shares of the firm's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $100.20, for a total value of $410,820.00. Following the transaction, the chief executive officer directly owned 4,100 shares of the company's stock, valued at $410,820. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,024,581 shares of company stock valued at $95,632,761 in the last three months. Company insiders own 18.92% of the company's stock.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care.

The company's offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises.

Founded in 2015, Hinge Health primarily provides its services through employers and health plans.

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